Many homeowners may not realize that if something goes wrong with water and sewer pipes on your property, you have to pay for the repair. Now, the city of Nashville is giving customers the option to buy insurance.
Metro Water Services is partnering with American Water Resources with the promise of peace of mind for less than $12 a month.
The optional fee would be added to the monthly bill for participating Metro water customers. But before buying this type of service, you should read the fine print to know what you can expect if there is a problem.
For example, if tree roots grow into your lines, that's covered. But, if your pipes freeze or are damaged by a sinkhole or flood, that's not covered.
The policy covers sewer clogs, but they'll only replace the part of the line that's clogged. And they won't pay to upgrade the line to meet current codes.
The policy also won't cover anything inside your home or cover damage the problem caused to your home.
And you can't chose your own contractor. The company is not releasing a list of their local contractors.
Still, the coverage can help homeowners avoid unexpected repair bills, which can run in the thousands. But, you have to decide what's right for your situation.
"Very much like you would make the decision like whether to get extended warranty or other protection on something you own - very much like car insurance or life insurance," said Metro Water Spokeswoman Sonia Harvat.
Metro says it's doing this because a lot of companies were soliciting Metro customers.
"And many of those companies we weren't sure of - where the companies were located, what kind of reputation they had," Harvat said.
The city wanted to choose a company it says has a good track record.
Metro gets 12 1/2 percent of each premium. That covers the cost of Metro handling the billing and paperwork.
Copyright 2014 WSMV (Meredith Corporation). All rights reserved.